#CEXvsDEX101 CEXvsDEX101 highlights the key differences between centralized exchanges (CEX) and decentralized exchanges (DEX) in the crypto space:

CEX requires KYC and identity verification, holds user assets in custody, offers high liquidity, user-friendly interfaces, and customer support, but is prone to hacks and regulatory risks. They provide a wide range of trading options and are generally easier for beginners.

DEX allows anonymous trading directly from users' wallets without KYC, prioritizes privacy and user control, and operates without intermediaries. However, DEXs tend to have lower liquidity, are more complex to use, have vulnerabilities in smart contracts, and usually do not support fiat transactions.

Both have pros and cons and serve different user needs. CEXs dominate trading volume (~95%), but DEXs offer greater autonomy and privacy. Smart traders often use both depending on goals—CEX for convenience and speed, DEX for privacy and control